FCA Criticizes Fund Managers Over MiFID II Cost Disclosures

The U.K.’s financial regulator has evidence that asset managers are still misleading retail investors about the cost of funds, more than a year after European disclosure requirements came into force.

The Financial Conduct Authority’s findings follow criticism from senior City figures of its own ability to enforce the rules ushered in by the European Union’s revised Markets in Financial Instruments Directive in January 2018.